iAnthus Q1 revenue $42.8M down 17% YoY; net loss $10.1M; liquidity constraints persist

iANTHUS CAPITAL HOLDINGS, INC.

2023-Q1 EPS reported -$0.06 revenue$42,790,000

Revenue of $42.8M, down 17% YoY and 10% sequentially; gross margin 52.6% improved QoQ but down YoY.
Net loss $10.1M ($0.06/share) vs $19.5M loss in Q1 2021; Adjusted EBITDA $3.4M vs $13.0M YoY.
Debt default continues: $97.5M secured notes + $60M unsecured debentures; accrued interest and exit fees of $15.8M.
Restructuring support agreement proposes issuance of 6.07B common shares to extinguish debt; subject to regulatory and CSE approval.
Liquidity constraints led to missed interest payments; ongoing recapitalization transaction.

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